Itau Unibanco Holding S.A. Raises Position in Robinhood Markets, Inc. $HOOD

Itau Unibanco Holding S.A. grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 526.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,778 shares of the company’s stock after acquiring an additional 30,906 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Robinhood Markets were worth $3,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. True Vision MN LLC raised its position in Robinhood Markets by 1.7% in the second quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after acquiring an additional 116 shares during the period. Forum Financial Management LP grew its holdings in Robinhood Markets by 0.8% during the second quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after purchasing an additional 134 shares during the period. Hemington Wealth Management increased its position in Robinhood Markets by 22.5% in the second quarter. Hemington Wealth Management now owns 779 shares of the company’s stock worth $72,000 after buying an additional 143 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Robinhood Markets by 2.3% in the second quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock valued at $620,000 after buying an additional 148 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $148.34, for a total value of $3,708,500.00. Following the sale, the insider directly owned 565,949 shares of the company’s stock, valued at $83,952,874.66. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 4,297,404 shares of company stock valued at $529,026,559. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Price Performance

HOOD stock opened at $122.50 on Friday. The firm has a 50 day simple moving average of $132.81 and a two-hundred day simple moving average of $102.77. The stock has a market cap of $110.15 billion, a PE ratio of 50.83, a P/E/G ratio of 2.80 and a beta of 2.42. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm’s revenue was up 100.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on HOOD. Morgan Stanley upped their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Citigroup raised their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a research note on Thursday. Cantor Fitzgerald increased their target price on Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a research note on Thursday, November 6th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $132.65.

Robinhood Markets Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.